FuelQuest Advises On Purchase Intelligence For Profit At The Pump

FuelQuest, the leading on-demand software and services company for the global downstream energy industry, has today issued advice for petrol retailers on purchase intelligence in light of the fluctuating fuel prices across the country. During this period of economic uncertainty, it is important that petrol retailers manage their fuel purchases efficiently to ensure that stock levels and profit margins are maintained, if not improved.

Despite the recent increases in the price of crude oil in recent months, it is still less than half of the $140-a-barrel high it reached last year and in light of this, some petrol retailers have taken the opportunity to pass the savings onto their customers.

“Due to the fluctuating fuel prices, retailers are locked in tight competition,” said FuelQuest’s President & CEO, Matt Tormollen. “Customers will ultimately buy at the lowest price and those retailers procuring fuel at low cost will be able to pass the benefits onto the customer, whilst improving margins.”

With fuel prices ranging from Asda’s 99.9 pence per litre to 109.9 pence per litre and more at other forecourts across the country, petrol retailers are being advised to seize greater control over fuel operations and supply chain activities in order to be able to reduce fuel prices and improve consumer benefits. Greater control can also lead to optimal order placement to gain advantage of the best supply price and the best fit with the usage forecast on every delivery, thereby benefiting both the retailer and the customer.